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03-28-2020, 09:00 PM
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#41
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Member
Brand: Thor Motor Coach
Model: ACE 27.2
State: California
Posts: 43
THOR #17484
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The selloff is so broadly based that some people who expect the market to recover advise buying in with diversified choices like index-based funds rather than trying to pick winners. There may be persistent structural impacts on segments of our economy that are not obvious today. Not advice, just an observation.
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03-28-2020, 09:51 PM
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#42
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Junior Member
Brand: Thor Motor Coach
Model: Palazzo
State: Oklahoma
Posts: 17
THOR #6168
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Was taught long ago to pay as you go. We tore up credit cards(back when gas cards came in mail daily) (late 60s). At that time we were $2800.00 in CC debt. That did not count house, PITI $168.00/mo @6%
Sounds funny now, but my brand new 68 Camaro cost $2600 cash including 8 track player.
With in a few months we wondered why we had extra cash.
Market will come back, probably less than 12 mo. MY OPINION ONLY.
Our bucks are in dividend stocks & bonds,(mostly munis). Stocks that used to be called Blue Chip. Only one stock has temporarily stopped dividends.
Market rises & falls, but income stays the same. Must remind DW of this daily as she watches market.
Peter
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03-28-2020, 11:54 PM
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#43
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Member
Brand: Thor Motor Coach
Model: Windsport 32R
State: South Carolina
Posts: 67
THOR #17209
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I retired in 2006. In 2008 my broker told me everything was hunky Dory. I told him that he worked for me and it was my money, not his. He got a commission whether I won or lost. I took all my money and put in CDs when I found an honest banker who said that I had enough that I didn't need to take a risk. This is my 14th year of retirement and I still have almost all of the money I had then, even though I've been living on it. Oh, yeah, retire to Myrtle Beach. The cost of living is one third of where we lived before and the weather is better.
I only watch the price of oil because I still have to buy gas. Can't go anywhere in the motorhome for a while, though. Boo Hoo.
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03-29-2020, 12:08 AM
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#44
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Member
Brand: Thor Motor Coach
State: Alabama
Posts: 69
THOR #15026
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Quote:
Originally Posted by TLeenhouts
I retired in 2006. In 2008 my broker told me everything was hunky Dory. I told him that he worked for me and it was my money, not his. He got a commission whether I won or lost. I took all my money and put in CDs when I found an honest banker who said that I had enough that I didn't need to take a risk. This is my 14th year of retirement and I still have almost all of the money I had then, even though I've been living on it. Oh, yeah, retire to Myrtle Beach. The cost of living is one third of where we lived before and the weather is better.
I only watch the price of oil because I still have to buy gas. Can't go anywhere in the motorhome for a while, though. Boo Hoo.
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We have a similar story. We both retired almost two years ago and despite taking out weekly amounts (we have decreased that amount twice already) we have more (even with the ups and downs the past few weeks) than we have when we started. I had also taken out a large amount for a down payment when I traded in my old RV and upgraded to a 2019 Class A. Even with all those withdrawals, thanks to the current economy due to our President, our retirement is still growing and much, much larger than when we retired.
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03-29-2020, 12:53 AM
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#45
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Member
Brand: Thor Motor Coach
Model: ACE 27.2
State: California
Posts: 43
THOR #17484
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The US President who oversaw the greatest percentage growth in the stock market was Calvin ((Silent Cal) Coolidge. Under his leadership the market grew 230% from 1923 to 1929.
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03-29-2020, 01:15 AM
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#46
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Member
Brand: Thor Motor Coach
Model: ACE 27.2
State: California
Posts: 43
THOR #17484
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Clinton 229%
FDR. 198%
Obama 148%
Reagan 147%
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03-29-2020, 02:33 AM
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#47
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Senior Member
Brand: Thor Motor Coach
Model: Chateau 31L
State: Florida
Posts: 2,063
THOR #12189
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Quote:
Originally Posted by mrfixitct
It’ll be back, you dont lose til you sell..
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I quoted. Sorry, would that be a retweet? LOL.
It doesn't need any more than that.
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03-29-2020, 02:38 AM
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#48
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Senior Member
Brand: Thor Motor Coach
Model: Chateau 31L
State: Florida
Posts: 2,063
THOR #12189
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Quote:
Originally Posted by Solanopete
The selloff is so broadly based that some people who expect the market to recover advise buying in with diversified choices like index-based funds rather than trying to pick winners. There may be persistent structural impacts on segments of our economy that are not obvious today. Not advice, just an observation.
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An interesting observation might be small caps. Will the small business economy rebound before large caps? I own a small cap index that has just burst at the seams and remains strong. Guaranteed loans in that sector are a good sign though one has to remember it must be used to pay employees to be forgivable.
We'll see.
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03-29-2020, 02:41 AM
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#49
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Senior Member
Brand: Thor Motor Coach
Model: Chateau 31L
State: Florida
Posts: 2,063
THOR #12189
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Quote:
Originally Posted by petcar
cut...
Market rises & falls, but income stays the same. Must remind DW of this daily as she watches market.
Peter
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You ought to mess with her head, just to see the look on her face. You are friends, right?
Oh S%^t Honey, whata we do now!!!!!
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03-29-2020, 12:00 PM
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#50
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Junior Member
Brand: Still Looking
State: North Carolina
Posts: 18
THOR #13886
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Quote:
Originally Posted by mrfixitct
It’ll be back, you dont lose til you sell..
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In one of the past downturns a journalist said: "Bill Gates has lost 7 billion dollars"! Bill said the next day: "I haven't lost anything. I haven't sold any holdings".
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03-29-2020, 12:06 PM
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#51
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Junior Member
Brand: Still Looking
State: North Carolina
Posts: 18
THOR #13886
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Quote:
Originally Posted by Solanopete
Unfortunately, asset allocation gets too little attention by many investors and advisors. No matter how many times we go through significant selloffs, many investors get caught too heavily invested in equities. They and their advisors didn't adjust as they approached retirement to protect growth earned in the good times.
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That's why they invented Target Retirement Funds. For people like me who are bored to tears with this stuff. Years ago I just parked my 401K's and IRA's in TRF's and let it ride.
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03-29-2020, 02:34 PM
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#52
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Senior Member
Brand: Thor Motor Coach
State: Massachusetts
Posts: 576
THOR #12830
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PSA - Do NOT look at your first quarter statement and definitely NOT March. Its not your bank statement.
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2017 Mercedes Chateau Citation 24SR, flat towing at times a 2013 Honda CRV or two Rad Power electric bikes depending on the trip.
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03-31-2020, 02:36 AM
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#53
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Senior Member
Brand: Thor Motor Coach
Model: Chateau 31L
State: Florida
Posts: 2,063
THOR #12189
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Quote:
Originally Posted by glasspilot
That's why they invented Target Retirement Funds. For people like me who are bored to tears with this stuff. Years ago I just parked my 401K's and IRA's in TRF's and let it ride.
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The name of the game is sit tight. Play with what's left.
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03-31-2020, 02:39 AM
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#54
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Senior Member
Brand: Thor Motor Coach
Model: Chateau 31L
State: Florida
Posts: 2,063
THOR #12189
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Quote:
Originally Posted by Yaktop
PSA - Do NOT look at your first quarter statement and definitely NOT March. Its not your bank statement.
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The only ones that count are the ones at year end. Most everybody is in wait mode. The market's moving up. Time to implement your research - and cross your fingers.
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03-31-2020, 03:55 AM
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#55
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Senior Member
Brand: Still Looking
Model: Forest River 2400R MBS
State: Missouri
Posts: 280
THOR #13744
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I switched all my 401k to Governments funds in late 2016 because I was getting close to retirement. I could have made more moneybut played it safe.
In about three weeks the Fed will send out relief checks. We won't get one based on our income last year. What gets me is that people who have their job and no change in income get those checks. Why???
To those of you who lost money, leave it as is if you can afford and wait it out.
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03-31-2020, 01:03 PM
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#56
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Site Team
Brand: Thor Motor Coach
Model: ACE 27.1
State: Florida
Posts: 14,326
THOR #7035
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Quote:
Originally Posted by 71_340
I switched all my 401k to Governments funds in late 2016 because I was getting close to retirement. I could have made more moneybut played it safe.
In about three weeks the Fed will send out relief checks. We won't get one based on our income last year. What gets me is that people who have their job and no change in income get those checks. Why???
To those of you who lost money, leave it as is if you can afford and wait it out.
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Expediency. Can you imagine the bureaucratic slowdown if the gubermint had to determine who was eligible by any litmus test imposed?? People might start getting checks next year.
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Ted & Melinda
2016 ACE 27.1
2016 Chevy Sonic Toad - Selling
2020 Chevy Colorado Z71 Trail Runner Toad
2024 Chevrolet Trax 2RS - Soon 2B TOAD
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06-05-2020, 10:43 PM
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#57
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Senior Member
Brand: Thor Motor Coach
Model: Chateau 31L
State: Florida
Posts: 2,063
THOR #12189
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Hope everyone sat comfortable. I rebalanced. Encroaching age 60. Rules dictate it. Anyone watch market results the last few days?
https://www.marketwatch.com/tools/marketsummary
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06-05-2020, 10:53 PM
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#58
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Member
Brand: Keystone
State: North Carolina
Posts: 83
THOR #5391
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Would be nice to leave it to family. Mandatory withdrawals is a bummer. At least I can buy more overpriced gold eagles.
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2019 Montana 3761 FL
2019 F350 4X4 DRW
Edgewater 205 EXP
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06-05-2020, 11:03 PM
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#59
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Senior Member
Brand: Thor Motor Coach
Model: Chateau 31L
State: Florida
Posts: 2,063
THOR #12189
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Quote:
Originally Posted by CaptnJohn
Would be nice to leave it to family. Mandatory withdrawals is a bummer. At least I can buy more overpriced gold eagles.
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There's nothing wrong with gifting it while you're alive. I believe the max is 10k/yr where the recipient doesn't have to pay tax. Triple check me on that and ask your advisor if you have one but that's my plan. Whatever I don't use goes to my daughter. She'll have to pay taxes on interest, dividends, etc but aside from that it's free money. Just sayin'...
Send at year end, preferably in the following year so tax doesn't accrue on the their new balance over the course of the current year. This way it grows throughout the year and tax isn't due until April 15 of the following year.
Sorry, forgot the disclaimer: This is not investment advice
Update: I stand corrected. Max is 15k. You can consult other sources as well. This is one example: "The IRS allows every taxpayer is gift up to $15,000 to an individual recipient in one year. There is no limit to the number of recipients you can give a gift to. There is also a lifetime exemption of $11.58 million" (re: https://smartasset.com/retirement/gi...1.58%20million).
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06-05-2020, 11:29 PM
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#60
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Member
Brand: Thor Motor Coach
Model: ACE 27.2
State: California
Posts: 43
THOR #17484
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Keep in mind that the Fed has pumped massive support into the economy to help deal with C-19 related shutdowns. It's hard to know how much stock market recovery is floating on the Fed's life boat and what will happen to markets when the Fed decides to withdraw that support and shift its attention back to inflation fighting.
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